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RBA Glossary definition for bill rate
bill rate – The bill rate is the effective yield to maturity earned by the holder of a bill. The yield is usually expressed as a per annum rate.
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Appendix A: The RBA79 model
1 Sep 1979
RDP
7903
Q. r. dummy variable for increases in commercial bill rate, 1974. ... r. 10 year bond rate. r. bl. 90 day commercial bill rate.
https://www.rba.gov.au/publications/rdp/1979/7903/appendix-a.html